PG&amp;E Corp.'s 1st Preferred Non-Redeemable About To Put More Money In Your Pocket

On 1/29/13, PG&E Corp.'s 5% 1st Preferred Non-Redeemable (AMEX: PCG.PRC) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 2/15/13. As a percentage of PCG.PRC's recent share price of $25.86, this dividend works out to approximately 1.21%, so look for shares of PCG.PRC to trade 1.21% lower — all else being equal — when PCG.PRC shares open for trading on 1/29/13. On an annualized basis, the current yield is approximately 4.64%, which compares to an average yield of 4.62% in the "Utilities" preferred stock category, according to Preferred Stock Channel.

As of last close, PCG.PRC was trading at a 4.82% premium to its liquidation preference amount, versus the average premium of 4.27% in the "Utilities" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of PCG.PRC shares, versus PCG:

Below is a dividend history chart for PCG.PRC, showing historical dividends prior to the most recent $0.3125 on PG&E Corp.'s 5% 1st Preferred Non-Redeemable: